- This topic has 3 replies, 2 voices, and was last updated 1 year, 3 months ago by hquer.
- Tuesday, December 21st, 2021 at 17:01 #52206geecommentsParticipant
Curious, what will happen to Matic’s ERC tokens once they start burning coins?I hold some Matic in Coinbase just wondering what will happen to them.Tuesday, December 21st, 2021 at 17:04 #52213hquer
Interesting; would like to hear that tooTuesday, December 21st, 2021 at 17:17 #52212Hefty-Gold-1291
nothing will happen to them, they will sit in your wallet.Tuesday, December 21st, 2021 at 17:58 #52211gjhgjh
Coins in wallets that aren’t being sent anywhere and won’t be burned. The coins that are being burned are the ones that you pay to make a transaction called the gas fee. Instead of all of the coins going to those who are staking Matic most will still go those staking and a small percentage will go to a developer wallet where they will either be used to improve the protocol or be sent on to a burn address.
When you send your coins off Coinbase they pass these gas fees on to you. You don’t pay a fee to transfer coins on Coinbase because the transfer is handled “in house.” No gas fees are generated because “in house” transfers don’t happen on the blockchain. So there are no fees to pass on to you.
- You must be logged in to reply to this topic.
Related Forum Topics:
- → 0.1 Matics in Exchange for 1 NFT from Decentraland
- → How to see ERC-1155 on address in blockchain? Why no notice about ERC-1155 transfer on destination and sending wallets?
- → Ethereum Scam Checker. Thought this might be good here. We built a site for quick and easy searches of ETH addresses to find out if they’ve been exposed to scams. It covers ETH, ERC-20, and ERC-721 transactions. Hope you like it!